Qredo Closed $80 Million Series A Funding Round with Coinbase Ventures and others

TokenInsight news, Qredo, the decentralized Layer2 infrastructure, closed an $80 million Series A round of funding, bringing its valuation to $460 million. The round was led by 10T Holdings, with strategic investments from Coinbase Ventures, Avalanche, Terra and others. The funds raised will be used to fuel the next steps of Qredo’s growth. This includes future acquisitions, further development of Qredo functionality for retail users, and facilitating Qredo’s geographic expansion. Qredo is a digital asset management infrastructure and product suite designed to unlock new opportunities for institutional investors in cryptocurrencies and decentralized finance. Qredo includes a novel Layer 2 blockchain protocol that enables users to seamlessly transfer and settle Bitcoin, Ethereum and other leading cryptocurrencies.